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FI Toolkit for iOS

By Steve Welch $2.99

Developer's Description

For all people interested in their financial health and well being, FI Toolkit can help with understanding the terminology and financial interrelationships for planning a future where Earn Save Invest is a priority for financial security. And, the app provides the visual aids and calculation metrics to know when success is likely achievable. The questions When will we become Financially Independent? and How long will our money last? being critically important to answer.

You start by entering basic financial information, what you earn, what you save, and what you generally spend. With Financial Independence as the goal, the app projects forward in time to calculate and display your estimated future Account Balance (detailed in a chart and supporting Spreadsheet). By refining your inputs to reflect changes in your Earn Save Invest strategy, you can investigate the impact on a likely future Account Balance profile and estimate when your money will run out. The app provides a means to quickly model different lifestyle directions you may choose to pursue.

A few of the capabilities to help model your projected financial future includes:

Determine contributions made to retirement accounts based on current and projected IRS rules

Deposit and maintain an emergency fund in a savings account

Define other income sources and durations

Account for Social Security benefits for yourself and spouse

Estimate Federal taxes based on simplified assumptions and current tax laws

Estimate State taxes based on current tax laws

Tally current expenses and project (with inflation) into future years

Compare expenses to net income for deposit into investment accounts

In Retirement:

Determine distributions required to cover expenses

Calculate Rate-of-Withdrawal during retirement years

Compute Required Minimum Distributions (RMDs)

The app provides login security features (including FaceID) and synchronizes with your other iOS devices.

Full Specifications

What's new in version 1.1

General

Release April 17, 2020
Date Added April 17, 2020
Version 1.1

Operating Systems

Operating Systems iOS
Additional Requirements Requires iOS 11.2 or later. Compatible with iPhone, iPad, and iPod touch.

Popularity

Total Downloads 0
Downloads Last Week 0
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